Paulson & CO. Inc. lifted its stake in Facebook, Inc. (NASDAQ:FB) by 2.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,300 shares of the social networking company’s stock after acquiring an additional 4,300 shares during the quarter. Paulson & CO. Inc.’s holdings in Facebook were worth $26,322,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Arcadia Investment Management Corp MI boosted its holdings in Facebook by 20.0% during the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after acquiring an additional 120 shares during the period. Cohen Capital Management Inc. bought a new stake in shares of Facebook in the first quarter valued at about $121,000. Viking Fund Management LLC bought a new stake in shares of Facebook in the first quarter valued at about $142,000. State of Alaska Department of Revenue bought a new stake in shares of Facebook in the first quarter valued at about $180,000. Finally, Trust Department MB Financial Bank N A lifted its stake in shares of Facebook by 61.2% in the first quarter. Trust Department MB Financial Bank N A now owns 1,346 shares of the social networking company’s stock valued at $191,000 after buying an additional 511 shares during the period. 57.30% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on FB shares. Canaccord Genuity restated a “buy” rating and set a $175.00 price target on shares of Facebook in a research note on Friday, June 16th. Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $156.06 price objective for the company. in a report on Thursday, May 25th. Cantor Fitzgerald set a $180.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Tuesday, June 20th. Robert W. Baird reissued a “buy” rating and issued a $185.00 price target on shares of Facebook in a report on Friday, September 1st. Finally, Moffett Nathanson reaffirmed a “buy” rating on shares of Facebook in a research note on Friday, June 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $183.74.
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In other Facebook news, VP Colin Stretch sold 750 shares of the stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $152.87, for a total value of $114,652.50. Following the sale, the vice president now owns 87,656 shares of the company’s stock, valued at approximately $13,399,972.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Sheryl Sandberg sold 131,500 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $152.65, for a total value of $20,073,475.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,109,908 shares of company stock worth $2,140,922,321. Corporate insiders own 19.08% of the company’s stock.
Facebook, Inc. (NASDAQ:FB) traded up 0.40% on Friday, hitting $171.64. The stock had a trading volume of 15,660,539 shares. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $175.49. The company has a 50-day moving average of $170.10 and a 200 day moving average of $153.80. The company has a market cap of $498.48 billion, a PE ratio of 38.42 and a beta of 0.76.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. On average, analysts predict that Facebook, Inc. will post $5.33 EPS for the current fiscal year.
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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